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Self Employed 75% LTV mortgage 1yrs accounts & Reference
Welshbigman
Posts: 29 Forumite
House Purchase price £325k
75% LTV - Borrowing - £243,750
Balance made up of £42,562 equity in existing property
Gift from parents of £38,688
Income details
1st applicant - £36,000 per annum from PAYE employement
£8,000 per annum from LTD company (1st and 2nd applicant 50% each shareholders)
2nd Applicant - £18,000 per annum from LTD company (1st & 2nd Applicant 50% each shareholders
£2,000 per annum from 2nd employement
As 1st applicants 2nd income is from LTD company and 2nd applicants 1st income is from Ltd company and we are both 50/50 shareholders this is deemed as self employement.
The issue I have is that as the company is relativaly newly formed we only have 1 years accounts, we also have an accountants reference.
Any recomendations for mortgage companies out there>????
75% LTV - Borrowing - £243,750
Balance made up of £42,562 equity in existing property
Gift from parents of £38,688
Income details
1st applicant - £36,000 per annum from PAYE employement
£8,000 per annum from LTD company (1st and 2nd applicant 50% each shareholders)
2nd Applicant - £18,000 per annum from LTD company (1st & 2nd Applicant 50% each shareholders
£2,000 per annum from 2nd employement
As 1st applicants 2nd income is from LTD company and 2nd applicants 1st income is from Ltd company and we are both 50/50 shareholders this is deemed as self employement.
The issue I have is that as the company is relativaly newly formed we only have 1 years accounts, we also have an accountants reference.
Any recomendations for mortgage companies out there>????
0
Comments
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Probably mangeable but limited options. Profit may well be a factor.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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